Oracle shares rose 7% after Trump announced a new $500 billion AI investment.

Oracle ( ORCL ) shares rose 7% on Tuesday after a report suggested the company is set to be part of a $500 billion investment in AI infrastructure to be announced by President Trump on Tuesday.

CBS News reported Tuesday Trump is set to announce new private sector investment to build artificial intelligence infrastructure in the U.S., with Oracle, ChatGPT creator OpenAI and Japanese conglomerate SoftBank ( 9984.T ) among the joint ventures.

The joint venture, called Stargate, is expected to start a data center project in Texas, CBS reported, and company executives are expected to attend the White House on Tuesday to pledge an initial investment of $100 billion. Other companies are expected to invest up to $500 billion in the program in the coming years.

SoftBank CEO Masayoshi Son, OpenAI boss Sam Altman and Oracle CEO Larry Ellison are all expected to attend Tuesday’s event.

On Monday, Trump signed a wave of executive orders that included revoking Biden’s Executive order Established security guidelines for generative AI. The order required large language models to provide security test results to the US government and federal agencies to assess potential threats.

Big tech executives, including Amazon’s Jeff Bezos, Meta’s Mark Zuckerberg and Apple’s Tim Cook, attended the president’s inauguration on Monday, where the sector cheered on Trump following his victory in the November election.

Another day one of the president’s actions is included. Calling a national power emergencyAlso a heavy focus on immigration. More steps are expected later this week, including more clarity on Trump’s highly anticipated tariff plans.

Alexandra Boy He is a senior reporter at Yahoo Finance. Follow her with X. @allie_canal, LinkedIn, And email me at alexandra.canal@yahoofinance.com.

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